World Investment Advisors LLC Increases Holdings in Avery Dennison Co. (NYSE:AVY)

World Investment Advisors LLC lifted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 17.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,953 shares of the industrial products company’s stock after purchasing an additional 587 shares during the period. World Investment Advisors LLC’s holdings in Avery Dennison were worth $873,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in AVY. Innealta Capital LLC purchased a new position in Avery Dennison in the second quarter valued at about $28,000. Larson Financial Group LLC lifted its stake in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the third quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison during the 2nd quarter valued at $42,000. Institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the subject of several recent research reports. Citigroup lowered their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Barclays dropped their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, BMO Capital Markets reduced their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $195.14 on Monday. The firm has a market capitalization of $15.68 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.52 and a beta of 0.87. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $206.51 and its two-hundred day simple moving average is $214.30. Avery Dennison Co. has a twelve month low of $193.49 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $2.10 earnings per share. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.80%. Avery Dennison’s payout ratio is 42.26%.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.